American businessman, billionaire and investor David Rubenstein believes that cryptocurrencies will remain in the financial market for a long time, as will gold.
During the Squawk Box program on CNBC, Rubenstein revealed that he himself did not personally buy cryptocurrencies directly. However, he has invested in cryptocurrency trading companies. The billionaire believes that cryptocurrencies will remain on the market for years to come, so such investments are perfectly acceptable.
“Cryptocurrencies came out of nowhere and became a force in the market. And this situation will remain. The idea that the government can prevent cryptocurrencies from becoming what investors want is unrealistic, ”says Rubenstein.
He noted that many investors are using Bitcoin as an alternative to gold. And even the increased volatility of the cryptocurrency market is quite natural, because this is a new asset class:
“Cryptocurrencies are rising and falling, and May 19 was not a good day for digital currencies. But that’s okay for a relatively new asset, and I don’t think they’ll crash to zero. They will stay on the market. ”
Rubenstein recalled that now many investors are looking for an alternative to the traditional financial system, the confidence in which has significantly decreased.
Earlier, the CEO of Ark Investment Catherine Wood (Catherine Wood) expressed confidence that the bitcoin rate will reach $ 500,000 in the foreseeable future.
But according to Scott Minerd, investment director of Guggenheim Partners, bitcoin and other cryptocurrencies are just a new tulip rush. At the same time, earlier he could be called a cryptocurrency enthusiast, but recent market events have turned him into a skeptic.
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